August 12, 2013

A little good news

Congratulations to the United Mine Workers of America for reaching a settlement with Patriot Coal that preserves some of the benefits promised to retired miners. Details of the settlement aren't available yet. The company was formed from holdings from the Arch and Peabody coal companies. Many observers contend, with the union, that Patriot was set up to fail as a way of getting rid of promised benefits to retired union miners.

Despite an unfavorable ruling by a federal judge in May, the union kept up the pressure and protests, even as its leaders continued to try to reach a negotiated agreement.

Lots of us who sympathized with the miners were also concerned about the precedence this bankruptcy deal would set. The obvious question was, "Who's next?"